We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
|
|
Share your
coal and shipping news
|
|
“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
Thursday, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
|
|
|
Showing 1916 to 1920 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
|
| |
| |
|
